Don't encourage multiple trading!

[Greggry]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

[Fullcoinese]

does your friend trade futures? for those familiar with day trading it is very easy to open multiple trades. of course, the risk is greater because the market may move not according to our plans and analysis.
I also sometimes open 2 or 3 futures trades. that's fine with that, sometimes it's all profit. but sometimes we also have to lose. because in trading that's how it works. we cannot force them to continue to benefit.

[Hamza2424]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Nope, I don't think multiple trades reduce the trading risk, Bitcoin price drop is another thing to discuss because crypto market capital is always dominated by Bitcoin with almost half of it if Bitcoin feels any type of sudden changes the whole market faces the consequences but in the natural trading days single Trade in one asset can be dangerous I would say take multiple trades in a single asset or multiple assets it will diversify your profit and market risk. I am going totally against OP's recommendation because I can't feel anything worthy in OP's opinion, he is recommending single trade whether its newbie or an experienced market player, on the other half I always recommend diversifying risk management is more important and this is how you learn and gain better experience in the market.

For your friend, I would recommend that he should learn management skills If he really wants to be a successful trader.

[Oshosondy]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

What if your friend only trade one coin and the coin against the direction taken and the loss is significant? Trading multiple coins is not the problem, the problem is to know the direction the coins are going because if one coin is falling, other coins are most likely falling too. I also thought trading just a single currency is the best before, until I traded multiple coins that go towards my direction.

Tell your friend to learn risk management and also use a better strategy to minimize losses. It is good not to use leverage while trading, especially while trading altcoins.

[jossiel]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Maybe he's into futures.

Because he wouldn't lose that immediately if he's on the spot but as you've said that when the price dropped again, he's at total loss. Well, if your friend is a long time trader, he probably know what he's doing.

That's why for him it should be enough to understand that the risk he's taking shouldn't be ignored. Otherwise, he should quit futures and stay on the spot trading.

[Aikidoka]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

If he's into futures trading, then I guess that's okay. As a long-term trader, people experience losses, but they should keep holding until the green days come. These days are sure to come when the price of Bitcoin increases, and of course, the market will follow Bitcoin and turn green. Most crypto follow Bitcoin's price pump. So, in my opinion, it's normal to experience losses, as this can be a valuable learning experience and an opportunity to manage one's assets effectively.

[entebah]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

maybe your friends need to be more careful with every crypto he buys. He needs to do good research and good reason to buy it.
don't just buy any crypto that he feels that will make him get profit.

[dzungmobile]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be.

If you are a bad trader, you should not trade even just trading with one trade at a time.
If you are a professional trader, you actually do your own research and analyses before you carefully open your trading positions. It's not big matter to have multiple trades at a time.

A professional trader always have plans to exit and avoid big losses.

• Stop loss order: One of best weapons in trading
• Stop limit order is better than stop loss order when a market has big slip, cascade effect.
• Awesome crypto trading

Trading on free chart with multiple opening can be very dangerous.

What is free chart?

Chart is free for everyone.

Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

If a small fall of Bitcoin hours ago caused your friend some losses or big losses, he should stop trading and switch to invesment, hold.

[adaseb]

Well you need to realize that many crypto assets move more or less at the same time. You buy ETH and BTC against USD and there is a chance that both will go up or down by a similar percentage.

Same with buying alt coins. Very rarely do some go up while some go down. Most go the same way. Especially if it’s against a stablecoin.

Hence why the OP is right, you shouldn’t enter a whole bump of one direction trades like that because they will either all work or won’t.

[kamvreto]

Opening many trades at the same time depends on how a person's ability to do trading analysis and management. If they were just beginners and started by trading a lot then it would be disastrous. Your friend may open a lot of trades without knowing what the risks will be. There should be backups to do when prices start to crash. If you split all the funds with many trades and have no reserves, it's stupid. However reserves are very important when the market crashes unexpectedly. If your friend trades futures, it will be an even bigger disaster, everything will be liquidated and of course you won't be able to return, it's different if your friend only opens a lot of trades in Spot trading, it's still safe enough to hold him.

[irhact]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Your friend need to stop trading immediately if he's just trading on feeling the market will go in his favor, also him opening multiple trade is just making the loss worsen. If he was a professional trader and knows what he's doing then opening multiple trade won't have been much of an issue but the fact that he doesn't understand what he's doing as you have said, is why what he's doing is very dangerous.

Is your friend opening the trade on different trading pairs or he's doing it on the same trading pair. Trading on the same pair won't be a wise decision since if the prediction were to be wrong you lose all trades but when you're trading in multiple pairs you could be at an advantage because you'll be getting profits from one of those trades.

[noorman0]

I was also an active futures trader, and it never crossed my mind to open multiple positions on multiple coins at once. I think this action is basically chasing a bigger profit rate, if I'm confident enough with the analysis then it's enough to increase the leverage.

[wxa7115]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Traders need to be incredibly careful when they open several positions on the same market roughly at the same time, and this is because with each trade they open not only they increase the chances to obtain profits, but they also increase the risk they are facing and the potential losses as well.

So what to do? From the books I have read opening multiple trades in a row is not recommended and it is only allowed when you are opening positions at different markets, but be careful I said different markets not different assets, so opening several positions on bitcoin and ethereum will be forbidden, but opening a position on the market of cryptocurrencies and the stock market will be allowed.

[AicecreaME]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

What if your friend only trade one coin and the coin against the direction taken and the loss is significant? Trading multiple coins is not the problem, the problem is to know the direction the coins are going because if one coin is falling, other coins are most likely falling too. I also thought trading just a single currency is the best before, until I traded multiple coins that go towards my direction.

Tell your friend to learn risk management and also use a better strategy to minimize losses. It is good not to use leverage while trading, especially while trading altcoins.

Maybe what OP were trying to say is that his friend is already struggling with a single trade yet he did multiple trades that's why it backfired on him. It's hard to do multiple trades actually using a single monitor, in my opinion, or if you're not that experienced when it comes to futures trading, it could really increase the risk of losing your trades.

My only suggestion is to never enter a big trade with multiple entries per coin if it is your first time since you're only after for experience, don't risk it too far.

[Wind_FURY]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Did your friend trade with leverage? We might be starting to be in a bull market cycle, if he didn't get liquidated, then it's OK. If he is well-capitalized, he will be solvent enough to be still in the trade and get those losses back. But if he simply bought Bitcoin, tell him to "just HODL"!

[palle11]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Multiple trading may be represented like martingale and nothing wrong with that if you are experienced with such to be able to control it and monitor appropriately or use your stop loss intact. Multiple trading is for you to use your money management skills appropriately, lower your leverage, use stop loss and you must have sufficient fund to carry the waves of the market.

[xSkylarx]

I do multiple trades, but it depends, like, if there is strong support or resistance. I am sure that this will go my way, but most of the time I take trades one at a time and set just a target profit on them because I do have limited capital. Though the profit of putting multiple trades is huge, the problem is that you lose a lot, like times the trades you put, unless you have a lot of balance, which you can still cater to, but this kind of strategy depends on the trader, which we need to respect.

[borovichok]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

Losses is inevitable in the market but we need to do proper risks management inother not to estimate our losses to our gains. Even pro traders record losses in trades, but they always make sure that they bounced back to the market with enormous profits. Triggering multiple trading positions is very risky because one doesn't know the next move of candlesticks in charts. I only recommend trading with pairs that one is already used and examine the criteria before trading. Different trades will only bring confusion and emotion instability because s trader will panick when the trade is going against the setup plans and would want to hurry to close the trade, therefore resulting in loss.

[death69]

When it comes to trading, I'm all about simplicity. One trade at a time, no chaos, no complications. But my buddies? They're like a sugar-craving tyke in a confectionery - those tempting trades are irresistible. Naturally, more open trades mean higher risks. Picture juggling chainsaws - flashy, but one misstep and it's curtains.

Feeling fortuitous? Indulge in as many trades as you crave. Just keep your focus and maintain the big picture perspective.

In the end, it's about pinpointing your trading sweet spot. Whether that's going all-out on one trade or diversifying across many, the call is yours. But always practice due diligence and never gamble with more than you can stand to lose.

[Dunamisx]

My friend loves opening different trades at a time, most at times is difficult for him to control what's should be. Trading on free chart with multiple opening can be very dangerous. Yesterday he experience unusual hit when bitcoin price drops again, four trades loss at once when the market go against him. Personally I don't advise multiple trade especially when you're not familiar with trade

What if your friend only trade one coin and the coin against the direction taken and the loss is significant? Trading multiple coins is not the problem, the problem is to know the direction the coins are going because if one coin is falling, other coins are most likely falling too. I also thought trading just a single currency is the best before, until I traded multiple coins that go towards my direction.

Tell your friend to learn risk management and also use a better strategy to minimize losses. It is good not to use leverage while trading, especially while trading altcoins.

For me, you only consider trading only bitcoin as important to me, i wouldn't have the gods to risk myself with trading on other cryptos, because anything funny can comes out as a surprise to me at any time, the problem with them again is that they easily rise and massively fall on a sudden, anything can happen at anytime, we only beed to stay focused on one coin or rather choose some other few ones along with them if we want to take the risk that my be associated.